Buyer’s market in real estate rages on in Asheville

The buyer’s market rages on for residential real estate in Asheville.

Fresh new data on shows fewer and fewer homes are being sold in the area — to lows not seen in more than 5 years.

The percentage of homes sold in Buncombe County in the past 12 months dropped to just 2.2% in July and 2.5% in Asheville proper. In early 2007, about 10% of all homes in the area were being sold.

Not surprisingly, given the country’s economic woes, over 90% of the homes in Asheville have declined in value over the past year. In 2005, it was under 10%.

The latest data shows about 17% of the homes being sold in Asheville are being purchased for less than the previous owner paid — and that excludes  foreclosure transactions.

Home prices are dropping about 6% every 30 days, according to Zillow’s latest data.

Now may be the time to buy, and you can check out area homes for sale on

UPDATE: 5 reasons you should buy a house now.

Buncombe-Asheville Homes Sold

Buncombe-Asheville Homes Sold


1 Response to “Buyer’s market in real estate rages on in Asheville”

  1. 1 Is Asheville’s buyer’s market for homes slowing? « Iwanna Blog Trackback on October 8, 2009 at 10:52 am

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